Performance Vesting Conditions. The Performance Vesting Conditions for this award are (i) relative total shareholder return (“Relative TSR”) generated by Canopy Growth vs. a custom group of cannabis industry peers over the Performance Period as described below and (ii) Adjusted EBITDA generated by Canopy Growth over the Performance Period as described below.
Performance Vesting Conditions. Subject to the terms and conditions of this Agreement and the 2017 Plan, the PSU Award shall vest and the PSUs will be converted into an equivalent number of Shares that will be delivered to Participant, subject to applicable withholding taxes, only upon the Committee’s determination, after completion of the Performance Period, of the level of achievement of the applicable Performance Goals identified in Exhibit A to this Agreement.
Performance Vesting Conditions. This Exhibit A contains the performance vesting conditions and methodology applicable to the PRSUs. Subject to the terms and conditions set forth in the Plan and the Agreement, the portion of the PRSUs subject to this Award, if any, that become vested during the Performance Period will be determined upon the Committee’s certification of achievement of the performance criteria in accordance with this Exhibit A, which shall occur within sixty (60) days following the end of the Performance Period (the “Certification Date”). Capitalized terms used but not defined herein shall have the same meaning as is ascribed thereto in the Agreement or the Plan.
Performance Vesting Conditions. The number of Performance-Based RSUs that become earned (if any) will be determined based on the performance measures set forth below.
(i) [●]
Performance Vesting Conditions. In addition to the satisfaction of the service vesting conditions set forth in subsection (i) of this Paragraph 2(a), the vesting and settlement of this Award is conditioned upon the satisfaction of any one of the performance conditions set forth in Exhibit A, subject to certification of achievement of such performance condition by the Committee. For the avoidance of doubt, only one performance condition needs to be satisfied, and once any one performance condition is satisfied, the Award shall vest in full, subject to any service vesting conditions set forth in subsection (i) of this Paragraph 2(a). Once any performance condition is met for a Performance Period, the Committee need not, and shall not, determine whether any performance condition for a subsequent Performance Period has been satisfied. Each of the performance conditions shall be subject to such adjustments and exclusions established by the Committee not later than 90 days following the beginning of the applicable Performance Period (and in no event after 25% of the Performance Period has elapsed).
Performance Vesting Conditions. Subject to the conditions set forth in this Agreement, the Option shall fully vest on a Xxx Equity Qualified Liquidation Event. A “Xxx Equity Qualified Liquidation Event” shall mean the point in time at which any event occurs (including but not limited to any distribution, dividend, Sale Event or other liquidity event) as a result of which Xxx Equity has received from the Company or its subsidiaries an aggregate amount of cash and/or Liquid Securities with a value equal to or in excess of 250% of the aggregate amount of capital invested or otherwise contributed by Xxx Equity to the Company and its subsidiaries with respect to the purchase or acquisition of equity securities. For purposes of determining whether a Xxx Equity Qualified Liquidation Event shall have occurred, no payments or amounts received by Xxx Equity from the Company and its subsidiaries which are not directly in respect of equity securities of the Company or its subsidiaries owned by Xxx Equity (such as management fees, consulting fees or expense reimbursements) shall be included in the calculation. “Liquid Securities” shall mean freely tradable securities of a Company listed on the Nasdaq National Market or the New York Stock Exchange having a public float with a market value in excess of $2,000,000.
Performance Vesting Conditions. Exhibit A to this PSU Agreement sets forth the performance conditions, the performance period over which performance is measured, and the multiplier (if any) that may be used to adjust the Target Number of PSUs upward or downward based on the level of achievement of the performance conditions, determined as of the last day of the performance period.
Performance Vesting Conditions. The SARs will performance-vest in accordance with and subject to achievement of the performance goals and conditions set forth in Exhibit A hereto over the Performance Period. The Committee shall determine the extent to which any SARs granted hereunder will vest based on the extent to which the performance-vesting conditions described in Exhibit A are achieved during the Performance Period as soon as practicable following (but in any event within thirty (30) days following) the completion of the Performance Period. For the avoidance of doubt, no SARs granted hereunder will vest unless both service-vesting and performance-vesting conditions are achieved as of the conclusion of the Performance Period.
Performance Vesting Conditions. No Award Shares shall vest on the Time Vesting Dates set forth in (i) above unless, until, and to the extent that the Company has achieved the Performance Vesting Conditions set forth below:
(A) the Company’s Annual Return on Average Assets (“AROAA”) for that calendar year (and/or any prior calendar years, as explained below) was greater than or equal to AROAA of fifty percent (50%) of the Comparator Group (as defined below. For each year in which the Performance Vesting Condition set forth in this subsection (A) is achieved, on the Time Vesting Date stated in Column D of the chart under 2(a)(i) above, the number of Award Shares shown for that year in Column A shall become eligible to vest and the number of Award Shares shown for that year in Column C of the chart under 2(a)(i) above shall vest. By way of clarification, for each calendar year during 2015-2018 in which the Performance Vesting Condition for such year set forth in this subsection (A) is achieved, no shares shall vest on the Time Vesting Date stated in Column D of the chart under 2(a)(i) above for that year, but [10%] Award Shares shall vest on December 31, 2019, for each calendar year if the Grantee continues employment through such date; and/or
(B) the Company’s Multi-Year Return on Average Assets (“MROAA”) beginning on January 1, 2015 and ending on the date listed Column D of the chart under 2(a)(i) above must have been greater than or equal to MROAA of fifty percent (50%) of the Comparator Group for the same period. For each year in which the Performance Vesting Condition set forth in this subsection (B) is achieved, on the Time Vesting Date stated in Column D of the chart under 2(a)(i) above, the number of Award Shares shown for that year in Column A shall become eligible to vest and the number of shares shown in Column C of the chart under 2(a)(i) above, minus the number of shares already vested in the current year pursuant to subsection (A) or in prior years, shall vest. By way of clarification, for each calendar year during 2015-2018 in which the Performance Vesting Condition for such year set forth in subsection (A) or (B) is achieved, no shares shall vest on the Time Vesting Date stated in Column D of the chart under 2(a)(i) above for that year, but [10%] Award Shares shall vest on December 31, 2019 for each calendar year if the Grantee continues employment through such date.
(C) For purposes of this subsection (ii), the “Comparator Group” shall include all banks listed in the SNL Fi...
Performance Vesting Conditions
